Unemployment in Chile

Chile Unemployment | Economic News & Forecasts

Chile - Unemployment

The economy likely rebounded in Q3, after plunging in Q2 due to strict lockdown measures, and available indicators point to a further improvement at the beginning of Q4. Activity expanded month-on-month throughout Q3, benefiting from an improving performance in the non-mining sector. Moreover, retail sales expanded strongly in annual terms in August-September, which, coupled with rising consumer sentiment, suggests household spending started to recover. Moving to Q4, a further improvement in both business and consumer confidence points to firming activity. Meanwhile, in mid-October, Fitch Ratings downgraded Chile’s credit rating from A to A-, citing worsening public finances due to the pandemic and increasing social pressure. Meanwhile, later in the month, voters overwhelmingly backed a plan to rewrite the constitution, raising uncertainty over the scope of government intervention in the economy.

Chile - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate6.3  6.5  6.6  7.4  7.2  

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Chile Unemployment Chart


Chile Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Insitute (INE) and FocusEconomics calculations

Chile Facts

Value Change Date
Bond Yield3.14-0.44 %Dec 30
Exchange Rate752.00.05 %Jan 01

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